California Micro raises guidance

California Micro Devices Corp. has updated estimates for its first fiscal quarter of 2004 ended June 30. The Milpitas, Calif., semiconductor supplier now expects June quarter revenue between $11.8 and $11.9 million and a net loss per share of 8 to 9 cents.

Earlier, the company projected revenue of $10.8 to $11.4 million and a net loss per share of 12 to 16 cents. The company expects its quarter-ending cash balance to be $3.3 million, compared to earlier guidance of $3.0 million.

"We anticipate that revenues for our mobile, medical and lighting products in Q1 will all be stronger than our previous guidance," said Robert Dickinson, president and chief executive, in a statement. "Particularly noteworthy is our expectation that medical revenue will represent an all-time high, underscoring the substantial progress we have made in resolving the process issues that constrained shipments in the prior quarter."